Juxtapose!
Government of Canada, July 2021;
The Government of Quebec confirms a $30-million loan for Taiga Motors, while the Government of Canada plans to grant a loan of up to $10 million to the business. These financial contributions will support Taiga Motors’ project to industrialize the manufacture of personal watercraft, snowmobiles, electric motorization systems and battery packs. This initiative valued at $125.17 million will lead to the creation, by the end of 2023, of at least 370 well-paying jobs in Montréal and Shawinigan.
Taiga Motors Corp. says it has obtained an interim court order for creditor protection as well as one authorizing the company to launch a formal sale and investment solicitation process.
The Montreal-based electric snowmobile maker also says it has secured a line of credit from Export Development Canada — already a creditor — for up to $4.4 million.
The company says the money will be used to finance it and its subsidiaries’ capital requirements for restructuring under the Companies’ Creditors Arrangement Act.
The company says it expects it will be placed under delisting review on the Toronto Stock Exchange.
Just replace EV or Batteries with AI and look for the next set of ponzi companies.
Never any shortage of snakeoil salesmen nor their idiot fans.
No shortage of idiots in government waiting to shovel money into the “next thing”. Economics, bah!
That’s what I want in the water with me, a battery with 50 kilowatts of charge in it.
Say what you want about gasoline and boats going on fire occasionally, water puts fires out.
Bankruptcy Law is a “well-paying” job … is that what the government of Canada was talking about in 2021?
“The Montreal-based electric snowmobile maker also says it has secured a line of credit from Export Development Canada — already a creditor — for up to $4.4 million.”
As usual, the federal government is propping up its ideological narrative, even when it doesn’t work and can’t work, throwing good money after bad. What corporation, other than government, doesn’t cut its losses in order to preserve its own Return on Investment (ROI)? Instead, EDC is pursuing bad fiscal policy in the hopes that reality will change by some kind of persuasive magic. Face the facts – EV technology is not ready, requires ICE technology to become ready, and cannot survive in the open market so handing more money to a failing company with a bad product is insane. But that is the definition of insanity – doing the same thing repeatedly expecting a different result just because we want it.
The EDC has no concern for ROI because it is a socialist institution which uses other peoples’ monies and suffers no consequences when its decisions are pathetic and useless. No one gets fired if the money is flushed down the economic toilet which is why the EDC should not exist in the first place. It doesn’t have an appropriate feedback loop that controls its output.
Should’ve invested the money in Solyndra……oh, wait…
A well known Canadian YouTuber whos channel focused on snowmobiles and ATVs had Tiaga come out to show off their creation…. A 750 lb sled capable of 45 mph with a range of 30 miles – about 300 lbs too heavy, 1/2 the speed of a normal sled, and 100 miles short of a tank of gas…
Which pretty much sums up the financial savy of anyone willing to invest in such.
I’m sure the people at Bombardier are having a good laugh.
or another application for a loan that they havent explored yet
Picture a 750 lb sled in soft powdery snow. Lucky to have a range of one mile.
If a project needs government funding, that means it can’t get private financing for good reason.
So just imagine how many e-snow machines will litter the indigenous Reservations? Stop, drop, abandon, replace (by the government).
Yet, the Trudeau Liberal-NDP government tries to scare voters about what vital programs the CPC government will cut if they form government. The CPC can easily cut off this type of corporate welfare and save billions. Cutting off CBC and the rest of the media will save 2 billion per year, and that’s the tip of the iceberg of taxpayer funded corporate welfare. Foreign aid is costing us 16 billion a year. Here’s other easy cuts by pruning back consultants and government employees. (National post 2021):
“Costs for “professional and special services” is expected to increase to $16.4 billion* next year, up from $10.4 billion when the Liberal government took office — the highest level of spending since at least the 1990s, according to public data. At the same time, the cost of paying government worker salaries has also increased sharply, from $39.6 billion before 2015 to $47.5 billion in 2020.”
The new CPC government can easily cut spending by 30 billion or more in these 4 areas – corporate welfare, foreign aid, consultants and government employees…and none of those cuts will negatively affect taxpayer or services
Under Harper, there was a federal “Get women into the trucking industry” program.
I’ll bet there are hundreds of idiotic things like that that can be axed.
A list of every single federal ministry and program should be made available, with the names, salaries and budgets of all involved should be made available, on the internet.
Same goes for provincial and municipal spending. Its our money, after all.
They say “military/defense spending” should be a secret, unless, of course, its under 2% of GDP?
Since the beginning of the 21st century, we have been and are being lied to on a scale heretofore unknown in human history.
I agree. How much money is being spent on government programs needs to be better known. I think taxpayers would be shocked at how much money is being spent that has zero benefits for 99.99% of Canadians. Vanity projects, corruption, waste and vote buying is the leading cause of Canada’s crazy high tax rates. Meanwhile, services Canadians do need and want are collapsing as rapidly as our standard of living.
LC, I would vote for you but you are obviously too smart to be a politician because everything you said makes sense. 100 % agreement here, us ” regular Joes ” could cut the deficit in a week.
There are many whole departments that could be eliminated. Completely.
Haha. I loathe politics and have very little respect for politicians. In my opinion, those aspiring to be politicians should have to endure a thorough vetting process, more thorough than any other profession. Also, a complete psychological evaluation. Then, once elected, an annual forensic audit of their finances. They should also have an ankle monitor to keep tabs on them like we would any other dangerous criminal.
/sarc
Those that aspire to be politicians should be disqualified on that basis alone.
Trudopes lips moveing again.
More BS. From our liebral gov.
From a recent press release…
“Taiga Motors Corporation (TSX: TAIG) (“Taiga” or the “Company”), the leading electric off-road vehicle manufacturer, is thrilled to announce that it is expanding its footprint across Scandinavia with the delivery of additional NomadTM snowmobiles to its key customers SkiStar and Motorbutiken Klövsjö. In addition, Taiga is continuing its expansion in the European market with snowmobile deliveries at French and Italian ski resorts and tour operators, revolutionizing the winter recreation industry with its sustainable and high performance electric sleds. Indeed, Europe accounts for 20% of the global snowmobile market and, with EV adoption having risen tremendously since 2019, the timing was ripe for Taiga to focus on the region as it initiates its next growth phase.”
And as recent as May 15, 2024 …
“Produced 329 Nomad™ snowmobiles in the first quarter of 2024. Recorded $5.08 million in revenue from the delivery of 207 vehicles. Began deployment of enhanced omnichannel sales model adding dealerships supporting improved local sales & servicing of Taiga vehicles. Continued international market growth and secured electric snowmobile sales agreements to resort operators in Sweden, Italy and France, and watercraft distribution to U.A.E. and South America.”
A $20 million business getting $40 million in government loans and grants.
That is revenue of $24,541 per vehicle. Inflation is definitely bad.
Electric snowmobiles. Why not solar powered vampires? We need fewer politicians with arts degrees and more with engineering degrees. Or just basic mechanics with 6 month’s experience.
I’m going to pitch the government a new company: Perpetual Green.
We make battery powered mechanical generators. Battery powers a motor to drive a generator.
It can charge itself! Forever!
Can i have a job running your fan powered wind turbine division?
Hey! Taiga! Have you given blubber douggie a call? I mean, given his recent track record for pissing away our money on anything electrical and green, if you’d agree to open up an Ontario office (even a virtual office would probably do) I’m pretty sure he could be counted on to shovel several billions your way.
They’ve already called him, and he’s got them on hold. He told his secretary, “Hold that Taiga!”
Are they telling us they didn’t make Taiga sleds part of the indigenous free annual sled program?
Indians are too smart to take electric sleds, only people with white liberal guilt are that dumb.
Gotta love the irony of that idea… a remote Inuit village in the middle of nowhere depending on some worn out, poorly maintained diesel generator for electricity, and the whole town is now gonna plug their snow machines in.
When they don’t charge, park them out on the ice ’till they fall in.
Here we go again, more blather about electric vehicles, none of which can be built without coal, oil and gas.
It’s hard not to come to the conclusion that all these “programs” are set up as grafting mechanisms for friends of the government.